Texas § 200.164 PLEDGEES AND TRUST ADMINISTRATORS.

Texas Statutes

§ 200.164 — PLEDGEES AND TRUST ADMINISTRATORS.

Texas § 200.164

Code BOBusiness Organizations Code

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Tex. Business Organizations Code Code Ann. § 200.164 (2026).

Text

Sec. 200.164. PLEDGEES AND TRUST ADMINISTRATORS.

(a)A pledgee or other holder of shares as collateral security is not personally liable as a shareholder.

(b)An executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver is not personally liable as a holder of or subscriber to shares of a real estate investment trust.

(c)The estate and funds administered by an executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver are liable for the full amount of the consideration for which the shares were or are to be issued. SUBCHAPTER E. DISTRIBUTIONS AND SHARE DIVIDENDS

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Sec. 200.164. PLEDGEES AND TRUST ADMINISTRATORS. (a) A pledgee or other holder of shares as collateral security is not personally liable as a shareholder.
(b) An executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver is not personally liable as a holder of or subscriber to shares of a real estate investment trust.
(c) The estate and funds administered by an executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver are liable for the full amount of the consideration for which the shares were or are to be issued.
SUBCHAPTER E. DISTRIBUTIONS AND SHARE DIVIDENDS